[Archive] FOREX - Trends, Forecasts and Consequences (Episode 11: January 2012) - page 196
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Overnight pullback down to 1.2780-1.28 and then to 1.3250 within 10 trading days - strictly imho
here's
you are drawing somehow - roughly, the lower red (I'm talking about the highlighted bold) trend of the week (this is like an indirect past I don't know how to say - to the current fall as H4 trend) has been broken on H4 - if the price goes down in this day will remain unbroken. I don't see any more resistances yet - but that doesn't mean we will go up to 29.
Down to 2740-2750...and up until 1.2950 there is a correction...
and I was wondering...
For H1, I'll tell you. That is, the unit of time is 1 hour, the horizon is one or more days. We take 24 hours and divide it into intervals according to Gann proportions, namely 1:1, 1:2, 1:3, 1:4 and 1:8. We obtain intervals of 24, 12, 8, 6 and 3 hours. We then look for the maximum and minimum values for each interval for the indicator. iPower is different in that it has convergence in values, as it is integer. If minimum and maximum values of all five intervals correspond to the same bars, this is what we have been looking for. The period is calculated using these two bars as the difference in the opening times and multiplied by 9, and then it is cycled on the chart. The same period is used to plot the close prices. On the boundaries of these time zones, the market either corrects or reverses. It all depends on where the price is - above the scale or below it. There are also mega zones that are 9 times 9 big zones. The price may show great volatility there on the border. )))
and then think and roll back to 2650 and then think...
For H1, I will tell you. That is, the unit of time is 1 hour, the horizon is one or more days. We take 24 hours and divide it into intervals according to Gann proportions, namely 1:1, 1:2, 1:3, 1:4 and 1:8. We obtain intervals of 24, 12, 8, 6 and 3 hours. We then look for the maximum and minimum values for each interval for the indicator. iPower is different in that it has convergence in values, as it is integer. If minimum and maximum values of all five intervals correspond to the same bars, this is what we have been looking for. The period is calculated using these two bars as the difference in the opening times and multiplied by 9, and then it is cycled on the chart. The same period is used to plot the close prices. On the boundaries of these time zones, the market either corrects or reverses. It all depends on where the price is - above the scale or below it. There are also mega zones that are 9 times 9 big zones. The price may show great volatility there on the border. )))
Thanks! I'll try to build it.))
By the way, the same convergence in values has tick volumes and also this indulgence. It shows the ratio of spreads of neighbouring bars. If you are like Strenger, or if you suddenly get addicted to VSA, it may come in handy)))
and then think and roll back to 2650 and then think...
There is no fundamental reason for a fall, there should have been a correction, I said yesterday that it looks like a reversal - here... the fluctuations that you indicated in the chart as an enticement for selling, were in anticipation of news (fixing of short positions)...
Here are the fundamental events on which the eu rose:
The Euro rose to a one-week high against the USD after European Central Bank President Mario Draghi said he saw signs of stabilisation in the EU economy.The euro was also positively influenced by a positive Spanish government bond placement.The single currency rose against 14 of the 16 major currencies, as Italian debt yields fell during today's auction. ECB kept its key interest rate unchanged.
The dollar fell to a one-week low against the yen after US retail sales data rose less than economists forecast. The dollar also fell against the euro after the US Commerce Department reported a decline in retail sales. The figure rose 0.1 per cent last month, following a 0.4 per cent increase in November. Economists had earlier forecast a 0.3 per cent increase in December.
Oh, and the interest rate was left unchanged and there were rumours of a rate cut, which pleased the euro.
))))) And roll up)))))